Business Income Insurance Coverage

[Sam Johnson]

Does anyone have any insight into if business income coverage has kicked in for their STR insurance policy. We have a policy via CBIZ/Tudor Insurance and our contact is claiming that COVID-19 loss of income in not a covered event. Airbnb's extenuating circumstances / steep decrease in bookings would appear to qualify for this coverage I would have thought, but they are claiming it does not.

[Jon Crosby]

Hi @Sam Johnson, just my 2 cents here and by no means am I an insurance expert.  

I would think that policy (loss of business income) would only kick in on property damage specific to your business.  Loss of income caused by COVID is a loss of market which is not usually covered by insurance from my limited knowledge.

Best of luck to you and all of us stuck in this cash flow vacuum at the moment.  ; )